Renasant Co. (NASDAQ:RNST) Receives Average Rating of “Moderate Buy” from Analysts

Renasant Co. (NASDAQ:RNST) has received a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $39.33.

A number of research analysts have commented on RNST shares. Hovde Group lowered shares of Renasant from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 13th. Truist Financial dropped their price objective on shares of Renasant from $38.00 to $37.00 and set a “hold” rating on the stock in a research note on Friday, September 20th.

Renasant Price Performance

Shares of NASDAQ:RNST opened at $36.89 on Wednesday. The company’s fifty day moving average price is $35.23 and its 200 day moving average price is $33.19. Renasant has a 12 month low of $27.98 and a 12 month high of $39.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.96 and a quick ratio of 0.94. The firm has a market capitalization of $2.34 billion, a P/E ratio of 12.02 and a beta of 1.02.

Renasant (NASDAQ:RNST) last announced its quarterly earnings results on Tuesday, October 22nd. The financial services provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07. Renasant had a net margin of 16.83% and a return on equity of 6.70%. The firm had revenue of $318.34 million for the quarter, compared to analyst estimates of $184.73 million. During the same period last year, the business earned $0.75 EPS. As a group, sell-side analysts predict that Renasant will post 2.65 earnings per share for the current fiscal year.

Renasant Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Wednesday, December 18th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.39%. Renasant’s dividend payout ratio (DPR) is 28.66%.

Insider Transactions at Renasant

In other news, Director John Creekmore sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $38.00, for a total transaction of $114,000.00. Following the transaction, the director now directly owns 24,057 shares in the company, valued at $914,166. The trade was a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.82% of the company’s stock.

Institutional Trading of Renasant

Institutional investors have recently added to or reduced their stakes in the stock. Quarry LP boosted its holdings in Renasant by 698.3% during the second quarter. Quarry LP now owns 934 shares of the financial services provider’s stock worth $29,000 after buying an additional 817 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in Renasant during the second quarter worth about $29,000. Meeder Asset Management Inc. purchased a new stake in Renasant during the second quarter worth about $39,000. Innealta Capital LLC purchased a new stake in Renasant during the second quarter worth about $48,000. Finally, KBC Group NV boosted its holdings in Renasant by 32.0% during the third quarter. KBC Group NV now owns 2,457 shares of the financial services provider’s stock worth $80,000 after buying an additional 596 shares in the last quarter. Hedge funds and other institutional investors own 77.31% of the company’s stock.

Renasant Company Profile

Renasant Corporation operates as a bank holding company for Renasant Bank that provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. The company operates through Community Banks, Insurance, and Wealth Management segments. The Community Banks segment offers checking and savings accounts, business and personal loans, asset-based lending, and factoring equipment leasing services, as well as safe deposit and night depository facilities.